New Innovative FIS Program Aims at Retiring Student Loan Debt for Next Generation of Company Leaders
March 10 2021 - 08:07AM
Business Wire
Key facts:
- FIS’ recruitment benefit pays down student loan debt for
eligible college graduate hires within the U.S.
- Starting this year, hires in the FIS University program are
eligible for the debt repayment program after one year of
service.
- U.S. college students are overwhelmed with $1.5 trillion in
loan debt, with minority students being most impacted.
With $1.5 trillion of loan debt1 weighing down U.S. college
students and graduates, financial technology leader FIS® (NYSE:
FIS) has announced a new student loan repayment program for
U.S.-based college graduates who are hired by FIS beginning this
year.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210310005088/en/
The FIS student loan program, the first of its kind in the
financial services industry, is available for college graduates who
are hired through the FIS University program. FIS will begin paying
off the principal student loan debt balance for each FIS University
joiner after one year of service with complete principal debt
expected to be paid off after 10 years of service for those
participants continuing in employment with FIS. FIS expects to
accept approximately 400 students into this innovative recruitment
program in 2021.
“As the company that empowers the financial and commerce world
by advancing the way the world pays, banks and invests, it’s
important that we invest in the development of future FIS leaders,”
said Gary Norcross, FIS chairman and CEO. “I’m excited about this
new program and what it means for the future of FIS and the clients
we serve.”
While the amount of student debt faced by graduates today is
staggering, it’s more overwhelming for many minority students. For
example, Black college graduates are living with almost twice as
much student debt as White college graduates when entering the job
market.2 Additionally, although they make up 56% of American
college students, women hold nearly two-thirds of America’s
outstanding student debt.3
FIS was named as one of Fortune Magazine’s 2021 World’s Most
Admired Companies and is considered a Best Place to Work for
lesbian, gay, bisexual, transgender and queer (LGBTQ) equality by
the Human Rights Campaign Foundation. FIS was also named one of the
top internship programs in the U.S. by WayUp, an organization that
helps enable early-career candidates to discover and be discovered
by employers.
Learn more about the FIS University program or apply for new
opportunities on the FIS Career Page.
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our employees are
dedicated to advancing the way the world pays, banks and invests by
applying our scale, deep expertise and data-driven insights. We
help our clients use technology in innovative ways to solve
business-critical challenges and deliver superior experiences for
their customers. Headquartered in Jacksonville, Florida, FIS is a
Fortune 500® company and is a member of Standard & Poor’s 500®
Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
1
https://www.forbes.com/sites/wesleywhistle/2020/09/01/what-drives-the-15-trillion-student-debt-crisis/?sh=55c9d1af7aec
2 http://money.com/money/4540266/student-debt-racial-gap/
3
https://www.marketwatch.com/story/womens-student-debt-could-hit-1-trillion-within-the-next-year-2018-05-21
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210310005088/en/
For More Information Kim Snider, 904.438.6278 Senior Vice
President FIS Global Marketing and Communications
kim.snider@fisglobal.com
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